Solana ETF about to launch: “It could happen any day”
- The U.S. Securities and Exchange Commission (SEC) could approve Solana spot ETFs for the first time in just a few days. According to media reports, several issuers are preparing for short-term approval – despite the looming government shutdown.
- According to Blockworks, at least three providers expect approval in the first half of October. One even speaks of “high confidence” that approval will be granted soon.
- Bloomberg analyst Eric Balchunas is also optimistic. “It could happen any day,” the ETF expert writes on X. “Frankly, the chances are really 100 percent right now.”
- With a market capitalization of approximately $115 billion, Solana would be the third major crypto asset, after Bitcoin and Ethereum, with a potential spot ETF. Initial applications were submitted in the summer of 2024. The SEC has been actively reviewing the corresponding S-1 forms since June.
- Polymarket also has a 99 percent chance of approval this year. Since the beginning of the year, Solana has gained 13 percent – ten percentage points less than Bitcoin. An ETF approval could provide new momentum for Solana – and push the price toward an all-time high.
- “If the price continues to trend north and overcomes the falling EMA20, a directional decision for Solana will occur in the area around the Golden Pocket between $218 and $222,” says BTC-ECHO market expert Stefan Lübeck.
- However, an impending government shutdown in the US could delay the process. “Nothing happens during a shutdown,” Blockworks quoted an anonymous source close to the SEC as saying. Nevertheless, the industry's focus appears to have long since shifted from “if” to “when.”
- In addition to Bitcoin and Ethereum, you can also trade Solana on Coinbase – safely, reliably, and affordably.
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Sources
- Polymarket
- X-Post by Eric Balchunas
- Article by Blockworks
